Drummond Community Bank Mortgage Rates, Fees & Info

Chiefland, FL

LEI: 254900G3JF710WUIHN65

Tax ID: 59-2976493

Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Review & Overview

Drummond Community Bank is a smaller bank specializing in Home Purchase loans. Drummond Community Bank has a high proportion of conventional loans. Their top markets by origination volume include: Punta Gorda, North Port, Homosassa Springs, Gainesville, and Ocala among others. We have data for 16 markets. (Some data included below & more in-depth data is available with an active subscription.)

Drummond Community Bank has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

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Originations

405

Origination Dollar Volume (All Markets)

$131,145,000

Employee count

211

Top Markets

Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

Market	Originations	Total Value	Average Loan	Average Fees	Average Rate
PUNTA GORDA, FL (FHA\|USDA\|VA)	88	$33,220,000	$377,500	$0	0.00%
North Port-Sarasota-Bradenton, FL (FHA\|USDA\|VA)	98	$29,340,000	$299,388	$0	0.00%
HOMOSASSA SPRINGS, FL (FHA\|USDA\|VA)	41	$13,495,000	$329,146	$0	0.00%
GAINESVILLE, FL (FHA\|USDA\|VA)	58	$13,300,000	$229,310	$0	0.00%
OCALA, FL (FHA\|USDA\|VA)	33	$12,685,000	$384,394	$0	0.00%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA\|USDA\|VA)	25	$10,475,000	$419,000	$0	0.00%
Lake City, FL (FHA\|USDA\|VA)	29	$7,395,000	$255,000	$0	0.00%
Outside of Metro Areas	15	$3,105,000	$207,000	$0	0.00%
Palatka, FL (FHA\|USDA\|VA)	1	$1,685,000	$1,685,000	$0	0.00%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA\|USDA\|VA)	3	$1,245,000	$415,000	$0	0.00%
TALLAHASSEE, FL (FHA\|USDA\|VA)	4	$1,120,000	$280,000	$0	0.00%
THE VILLAGES, FL (FHA\|USDA\|VA)	2	$1,090,000	$545,000	$0	0.00%
CAPE CORAL-FORT MYERS, FL (FHA\|USDA\|VA)	3	$915,000	$305,000	$0	0.00%
JACKSONVILLE, FL (FHA\|USDA\|VA)	1	$785,000	$785,000	$0	0.00%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA\|USDA\|VA)	2	$780,000	$390,000	$0	0.00%
Arcadia, FL (FHA\|USDA\|VA)	2	$510,000	$255,000	$0	0.00%

Drummond Community Bank's top markets include Punta Gorda, North Port, Homosassa Springs, Gainesville, and Ocala among others.

Their top states include:

Florida (FHA|USDA|VA)

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	405	$131,145,000	$323,815	$0	0.00%

For 2021, Drummond Community Bank's most frequently originated type of loan was Conventional, with 405 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	376	$123,640,000	$328,830	$0	0.00%
Refi	12	$4,830,000	$402,500	$0	0.00%
Cash Out Refi	10	$1,750,000	$175,000	$0	0.00%
Home Improvement	4	$440,000	$110,000	$0	0.00%
Other	3	$485,000	$161,667	$0	0.00%

For 2021, Drummond Community Bank's most frequently cited loan purpose was Home Purchase, with 376 originations. The 2nd most popular reason was Refi, with 12 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
Other	405	$131,145,000	$323,815	$0	0.00%

For 2021, Drummond Community Bank's most frequently cited loan duration was Other, with 405 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$200k-400k	225	$66,525,000	$295,667	$0	0.00%
$400k-600k	88	$41,470,000	$471,250	$0	0.00%
$100k-200k	56	$9,080,000	$162,143	$0	0.00%
$100,000 or less	23	$1,415,000	$61,522	$0	0.00%
$600k-1MM	9	$6,365,000	$707,222	$0	0.00%
$1MM+	4	$6,290,000	$1,572,500	$0	0.00%

2021 saw Drummond Community Bank place emphasis on $200k-400k loans with 225 originations, totaling $66,525,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-150k	109	$39,965,000	$366,651	$0	0.00%
$50k-75k	78	$19,670,000	$252,179	$0	0.00%
$75k-100k	76	$21,440,000	$282,105	$0	0.00%
$150k-250k	67	$25,955,000	$387,388	$0	0.00%
$50k or less	35	$6,165,000	$176,143	$0	0.00%
$250k+	21	$12,715,000	$605,476	$0	0.00%

Drummond Community Bank lent most frequently to those with incomes in the $100k-150k range, with 109 originations. The second most popular income band? $50k-75k, with 78 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
Exempt%	405	$131,145,000	$323,815	$0	0.00%

Drummond Community Bank lent most frequently to those with DTI ratios of Exempt%, with 405 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	329	$106,455,000	$323,571	$0	0.00%
Not provided	39	$14,145,000	$362,692	$0	0.00%
Not applicable	19	$5,235,000	$275,526	$0	0.00%
Asian	8	$2,370,000	$296,250	$0	0.00%
Black	5	$1,675,000	$335,000	$0	0.00%
American Indian	2	$460,000	$230,000	$0	0.00%
Native Hawaiian or Islander	1	$405,000	$405,000	$0	0.00%
Filipino	1	$255,000	$255,000	$0	0.00%
Asian Indian	1	$145,000	$145,000	$0	0.00%

Approval Rates

Total approvals of all applications
91.68%

Drummond Community Bank has an average approval rate.

Pick Rate

Approvals leading to origination
71.60%

Drummond Community Bank has a below average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
Exempt	405	$131,145,000	$323,815

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
	405	$131,145,000	$323,815

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
Drummond Community Bank	2811 Sw 27th Ave Ocala, FL 34471	Full Service B&M	$41,242
Drummond Community Bank	01160 N. Suncoast Blvd Crystal River, FL 34429	Full Service B&M	$47,825
Drummond Community Bank	104 Ne 351 Hwy Cross City, FL 32628	Full Service B&M	$38,691
Drummond Community Bank	120 Southwest 7th Street Williston, FL 32696	Limited, Drive-thru	$0
Drummond Community Bank	130 Northeast Clyde Avenue Mayo, FL 32066	Full Service B&M	$19,654
Drummond Community Bank	1502 East Wade Street Trenton, FL 32693	Full Service B&M	$43,135
Drummond Community Bank	1627 North Young Boulevard Chiefland, FL 32626	Full Service B&M	$169,649
Drummond Community Bank	16449 Sw Archer Road Archer, FL 32618	Full Service B&M	$6,403
Drummond Community Bank	2455 North Citrus Hills Boulevard Hernando, FL 34442	Full Service B&M	$34,594
Drummond Community Bank	331 E Hathaway Ave Bronson, FL 32621	Full Service B&M	$34,364
Drummond Community Bank	342 East Noble Avenue Williston, FL 32696	Full Service B&M	$155,258
Drummond Community Bank	3436 W University Ave Gainesville, FL 32607	Full Service B&M	$37,751
Drummond Community Bank	350 Sw Main Boulevard Lake City, FL 32025	Full Service B&M	$64,835
Drummond Community Bank	3833 Sw 37th Boulevard Gainesville, FL 32608	Full Service B&M	$12,974
Drummond Community Bank	3882 West Us Highway 90 Lake City, FL 32055	Full Service B&M	$25,918
Drummond Community Bank	7060 C Street Cedar Key, FL 32625	Full Service B&M	$30,395
Drummond Community Bank	7075 Us Highway 27 Fort White, FL 32038	Full Service B&M	$7,179
Drummond Community Bank	North Highway 19 And 349 Old Town, FL 32680	Full Service B&M	$40,201

For 2021, Drummond Community Bank had 18 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$34,101
Net interest income	$33,416
Total noninterest income	$10,057
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$3,786
Trading account gains and fees	$0
Additional Noninterest Income	$6,271
Pre-tax net operating income	$13,637
Securities gains (or losses, -)	$1,806
Income before extraordinary items	$12,487
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$12,487
Minority interest net income	$0
Net income	$12,487
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$11,024

Drummond Community Bank's gross interest income from loans was $34,101,000.
Drummond Community Bank's net interest income from loans was $33,416,000.
Drummond Community Bank's fee based income from loans was $3,786,000.
Drummond Community Bank's net income from loans was $12,487,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$685
Provision for credit losses	$1,406
Total noninterest expense	$28,430
Salaries and employee benefits	$14,205
Premises and equipment expense	$4,842
Additional noninterest expense	$9,383
Applicable income taxes	$2,956
Net charge-offs	$786
Cash dividends	$1,000

Drummond Community Bank's interest expense for loans was $685,000.
Drummond Community Bank's payroll and benefits expense were $14,205,000.
Drummond Community Bank's property, plant and equipment expenses $4,842,000.

Loan Performance

Type of Loan	% of Loans Noncurrent (30+ days, end of period snapshot)
All loans	0.0%
Real Estate loans	0.0%
Construction & Land Development loans	0.0%
Nonfarm, nonresidential loans	0.0%
Multifamily residential loans	0.0%
1-4 family residential loans	0.0%
HELOC loans	0.0%
All other family	0.0%
Commercial & industrial loans	0.0%
Personal loans	0.0%
Credit card loans	0.0%
Other individual loans	0.0%
Auto loans	0.0%
Other consumer loans	0.0%
Unsecured commercial real estate loans	0.0%

Deposits

Type	Value (in 000's)
Total deposits	$874,285
Deposits held in domestic offices	$874,285
Deposits by Individuals, partnerships, and corporations	$769,200
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$105,085
Deposits by Commercial banks and other depository institutions in U.S.	$0
Deposits by Banks in foreign countries	$0
Deposits by Foreign governments and official institutions	$0
Transaction accounts	$99,522
Demand deposits	$83,456
Nontransaction accounts	$774,763
Money market deposit accounts (MMDAs)	$92,765
Other savings deposits (excluding MMDAs)	$602,729
Total time deposits	$79,269
Total time and savings deposits	$790,829
Noninterest-bearing deposits	$440,067
Interest-bearing deposits	$434,218
Retail deposits	$829,902
IRAs and Keogh plan accounts	$5,101
Brokered deposits	$0
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$985,322
Cash & Balances due from depository institutions	$49,713
Interest-bearing balances	$32,161
Total securities	$412,387
Federal funds sold & reverse repurchase	$0
Net loans and leases	$482,608
Loan and leases loss allowance	$9,380
Trading account assets	$0
Bank premises and fixed assets	$25,931
Other real estate owned	$523
Goodwill and other intangibles	$901
All other assets	$13,259

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$985,322
Total Liabilities	$881,734
Total deposits	$874,285
Interest-bearing deposits	$434,218
Deposits held in domestic offices	$874,285
% insured (estimated)	$68
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$0
Other borrowed funds	$0
Subordinated debt	$0
All other liabilities	$7,449

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$482,608
Loan and leases loss allowance	$9,380
Total loans and leases (domestic)	$491,988
All real estate loans	$336,090
Real estate loans in domestic offices	$336,090
Construction and development loans	$80,420
Residential 1-4 family construction	$32,382
Other construction, all land development and other land	$48,038
Loans secured by nonfarm nonresidential properties	$142,722
Nonfarm nonresidential secured by owner-occupied properties	$80,106
Commercial real estate & other non-farm, non-residential	$62,616
Multifamily residential real estate	$4,580
1-4 family residential loans	$89,101
Farmland loans	$19,267
Loans held in foreign offices	$0
Farm loans	$7,653
Commercial and industrial loans	$56,843
To non-U.S. addressees	$0
Loans to individuals	$88,166
Credit card loans	$1,715
Related Plans	$447
Consumer Auto Loans	$1,753
Other loans to individuals	$84,251
All other loans & leases	$3,236
Loans to foreign governments and official institutions	$0
Other loans	$1,103
Loans to depository institutions and acceptances of other banks	$0
Loans not secured by real estate	$3,212
Loans secured by real estate to non-U.S. addressees	$1,136
Restructured Loans & leases	$850
Non 1-4 family restructured loans & leases	$604
Total loans and leases (foreign)	$0

DRUMMOND COMMUNITY BANK had $482,608,000 of loans outstanding in 2021. $336,090,000 of loans were in real estate loans. $80,420,000 of loans were in development loans. $4,580,000 of loans were in multifamily mortgage loans. $89,101,000 of loans were in 1-4 family mortgage loans. $7,653,000 of loans were in farm loans. $1,715,000 of loans were in credit card loans. $1,753,000 of loans were in the auto loan category.

Small Business Loans

Categorization	# of Loans in Category	$ amount of loans (in 000's)	Average $/loan
Nonfarm, nonresidential loans - <$1MM	303	$65,261	$215,383
Nonfarm, nonresidential loans - <$100k	67	$2,612	$38,985
Nonfarm, nonresidential loans - $100-250k	99	$12,341	$124,657
Nonfarm, nonresidential loans - $250k-1MM	137	$50,308	$367,212
Commercial & Industrial, US addressed loans - <$1MM	592	$42,979	$72,600
Commercial & Industrial, US addressed loans - <$100k	397	$8,407	$21,176
Commercial & Industrial, US addressed loans - $100-250k	117	$11,131	$95,137
Commercial & Industrial, US addressed loans - $250k-1MM	78	$23,441	$300,526
Farmland loans - <$1MM	82	$8,932	$108,927
Farmland loans - <$100k	30	$962	$32,067
Farmland loans - $100-250k	38	$4,103	$107,974
Farmland loans - $250k-1MM	14	$3,867	$276,214
Agriculture operations loans - <$1MM	40	$1,888	$47,200
Agriculture operations loans - <$100k	29	$499	$17,207
Agriculture operations loans - $100-250k	7	$563	$80,429
Agriculture operations loans - $250k-1MM	4	$826	$206,500